Hapag-Lloyd Agrees on Merger Terms with UASC
German container shipping line Hapag Lloyd AG on Tuesday said it has reached an agreement on terms and conditions of a business combination agreement with Arab peer United Arab Shipping Company (UASC). The deal, which would involve all shares in UASC being moved to Hapag-Lloyd, was approved by the Hapag-Lloyd supervisory board, it said in a statement. The merger still hinges on approval by both Hapag-Lloyd's anchor shareholders and the consent of UASC shareholders.
EU to Accept Antitrust Offer From Maersk, MSC, 13 Others
World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe…
Baltic Index Rises for Fifth Consecutive Session
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.
EU to Accept Antitrust Offer from Maersk, MSC, 13 Others
World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe, three people familiar with the matter said on Tuesday. The European Commission is likely to announce its decision next month, which means no fine or finding of wrongdoing against the companies, the sources said. Commission spokesman Ricardo Cardoso declined to comment.
China's Robust Crude Oil Imports Mask Changing Fuel Dynamics
China is a bigger concern for crude oil and products markets than the current worries about the British vote to leave the European Union. While the news media continues its relentless focus on Brexit…
MAN Turbochargers Round Millennium Mark
ECOCHARGE principle drives improved engine performance through two-stage turbocharging. MAN Diesel & Turbo has delivered its 1,000th turbocharger to two-stage turbocharged applications, the company announced. MAN has a long history in two-stage turbocharging and first evaluated the technology back in the 1970s. In late-2000, MAN focused on the technology to improve its four-stroke portfolio, resulting in the development of MAN ECOCHARGE…
Multraship’s New ASD Tugs Named in the Netherlands
Two Damen ASD 3212 tugs for towage and salvage specialist Multraship have been named on June 24 at Terneuzen, the Netherlands. The Multratug 29 and Multratug 30, named respectively by Rita de Ruijter- Ribbens and Els Otten- Muller, were built at the Damen Song Cam Shipyard in Vietnam, and operate for Multraship as sister vessels to Multratug 19. The 32-meter tugs, which have a bollard pull of 82 metric tons…
LUKOIL Introduces New Crankcase and Cylinder Oils
LUKOIL Marine Lubricants has introduced the newly formulated NAVIGO 6 CO crankcase oil and NAVIGO 70 MCL AW cylinder oil, offering newly designed additive packages and additional benefits with regard to thermal and oxidation stability, corrosion prevention and wear protection. According to LUKOIL , the new products come as a result of two years of focused research and development activities aimed at enhancing its standard crankcase and cylinder oil portfolio.
Essberger Fleet Moves to Marlink’s Sealink VSAT Service
The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service. The Installation on 22 chemical tankers and nine dry cargo vessels is expected to be completed by the end of the year. Essberger was founded in 1924 as Atlantic Tank Reederei by tank ship pioneer John T. Essberger. The Essberger Tankers division fleet consists of chemical vessels…
Panama Canal Expansion: Impacts on the Bunker Industry
The total volume of the Panama bunker market has increased in recent years as price levels are becoming increasingly competitive to U.S. bunker hubs like Houston, New Orleans and New York. In 2015, reports indicate that approximately 5 percent of the global trade passes through the Panama Canal. And, in the light of this weekend’s historic opening of the new Panama locks, this percentage is expected to grow in the coming years…
This Day In Naval History: June 28
1776 - Army Col. William Moultries' troops defend Sullivans Island and Charleston, S.C. from an attack by British Commodore Sir Peter Parker and his fleet during the American Revolution. After a nine-hour battle with casualties mounting, Parker retreats. With Charleston saved, the fort is named in honor of Col. William Moultrie. 1814 - The sloop of war USS Wasp commanded by Johnston Blakeley, comes across HMS Reindeer, commanded by William Manners, off Plymouth, England, and engages in battle.
First MAN D2676 Workboat Engine Ready for Launch
Last December, MAN Engines introduced its latest generation in-line six-cylinder engines for workboats. Now the first MAN D2676 LE443 engine off the production line will be installed aboard the new salmon fishing boat, LT32 Gilnetter, built by the Mavrik Marine boatyard in Washington State and set to launch in late autumn 2016. The D2676 LE443 is designed for light duty commercial operation and generates an output of 537 kW (730 HP) at 2,300 rpm with a cylinder capacity of 12.4 l.
Sevan Marine Divests Stake in KANFA Aragon
Sevan Marine ASA said it has disposed 50 percent of its stake in KANFA Aragon AS to Sembcorp Marine Ltd. for cash consideration of NOK 20 million, representing a…
Northern Lights Opens Branch Office in Louisiana
Marine power generation and climate control products manufacturer Northern Lights has opened its fifth branch office, in Kenner, La, to enhance service to Gulf and inland waterways boat builders and vessel operators. The new Northern Lights Gulf branch, which will employ a full-time sales, parts and service staff, will warehouse marine, industrial and commercial series products. The new branch will…
Groningen Seaports First in Line for Damen InvaSave
The first production version of Damen’s InvaSave ballast water treatment system – intended for use at Groningen Seaports – will be on display at the upcoming ‘DelfSail’ sailing festival between June 30 and July 3 in the city of Delfzijl, the Netherlands. Damen’s InvaSave ballast water treatment (BWT) system is intended to operate in ports and mobile operations as a fully containerized “plug and play” unit that provides ship owners with an alternative to retrofitting fixed BWT systems.
Russia, US Blame Each Other for Maritime Incident
Russia and the United States gave contradictory accounts on Tuesday of an incident involving the two countries' navies in the Mediterranean Sea on June 17, each…
Boskalis Secures Dike Reinforcement Project
Royal Boskalis Westminster N.V. announced that the Noorderzijlvest district water board intends to award the contract for the Eemshaven-Delfzijl dike reinforcement…
Meercat Workboats Scores a Hat-trick
The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that it expects to benefit from the recent Brexit vote. MC28 is a 15m x 6m monohull workboat currently in build for Briggs Marine at the company’s Portchester footprint near Portsmouth in Hampshire. To coincide with the end of the build, Meercat Workboats will be moving to Units 3a & 3b Hythe Marine Park…
Gas Plant Fire Halts US Gulf Coast Platforms
At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a…
Fundraiser Held for USS Gerald R. Ford Crew
Blackmer, a company in positive displacement and centrifugal pump and reciprocating compressor technologies, has a relationship with the U.S. Military that dates back to 1914 when it became an official equipment supplier to the Armed Forces. One of the more significant contracts Blackmer has earned was awarded in 2007 when the U.S. Navy selected the company to supply sliding vane pumps for use on the USS Gerald R.